Looking ahead, the IMF projects Pakistan will experience strong economic growth, with gross domestic product to rise 4.5% this fiscal year. The inflation rate has dipped to 1.8% in July, but it is expected to rise later this year if commodity prices stabilize.

Growth has been “helped by macroeconomic stability, low oil prices, planned improvements in the domestic energy supply, and investment related to the China-Pakistan Economic Corridor,” according to the IMF.

The reforms and healthy growth has put the country on course for an upgrade in MSCI’s indexing classification from frontier market to emerging market. If such a move happens for Pakistan, it would take place part of MSCI’s 2016 annual market classification review. [Pakistan ETF Could get a Lift From EM Upgrade]

Global X MSCI Pakistan ETF

For more information on Pakistan, visit our Pakistan category.

Max Chen contributed to this article.